Turbo Energy Announces Financial Results for Year Ended December 31, 2023 [Yahoo! Finance]
Turbo Energy, S.A. (TURB)
Company Research
Source: Yahoo! Finance
intelligence software, today announced that for the year ended December 31, 2023, the Company reported revenues of €13.14 million ($14.54 million) and a net loss of €2.01 million ($2.23 million). MANAGEMENT COMMENTARY The year 2023 was a period in which the residential and industrial photovoltaic sector was adversely affected by a variety of external factors including high interest rates, significant energy price decreases and subsidy reductions. Combined with unusually high inventory levels in distribution channels, these factors contributed to a significant reduction in photovoltaic sales volumes, especially in Spain, which is the main market of the company. Despite experiencing the negative effects of this market downturn, the company remains optimistic about the coming years. During 2023, Turbo Energy launched a portable version of its photovoltaic product for home balconies, as well as a version for commercial and industrial scale, and signed agreements with major retailers
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News
- Turbo Energy Files Patent Application in Spain for its Sunbox Commercial and Industrial Product [Yahoo! Finance]Yahoo! Finance
- Turbo Energy Files Patent Application in Spain for its Sunbox Commercial and Industrial ProductGlobeNewswire
- Turbo Energy Announces Financial Results for Year Ended December 31, 2023GlobeNewswire
- El Corte Inglés S.A. Begins Selling Turbo Energy's GoSolar Solution [Yahoo! Finance]Yahoo! Finance
- El Corte Inglés S.A. Begins Selling Turbo Energy's GoSolar SolutionGlobeNewswire
TURB
Sec Filings
- 5/9/24 - Form 6-K
- 4/24/24 - Form 6-K
- 4/19/24 - Form 6-K
- TURB's page on the SEC website